The GP sector is ever-changing and presents a range of financial challenges for practices. We are proud to class ourselves as specialists within the sector and have an experienced, innovative and dedicated team who are passionate about the service we deliver.

We have a wealth of experience within the GP sector, providing a variety of services to many GP practices, hospital consultants, locum GPs and other healthcare professionals, including:

  • Preparation of year end accounts
  • Partnership and personal tax returns
  • Management accounts
  • Budget forecasting
  • Drawings projections
  • Tax planning
  • Partnership agreements
  • Accounting software
  • Mergers and acquisitions
  • Superannuation (see below for more details)

We are also able to advise GP practices on Making Tax Digital, which will come into force for dispensing practices in March 2019 and for non-dispensing practices in 2020. This includes advice on systems, software and the tax implications for practices.

 
 
 

Our specialist Doctors Team

 
 

Pensions and Superannuation

Bishop Fleming provides a comprehensive service on pension and superannuation issues. There have been significant changes to pension rules in recent years including a high risk of pension tax charges which had not previously been a concern for many GPs. This has resulted in a growing need for specialist advice. Working in tandem with our in house independent financial advisers, we are proactive ensuring issues are identified early and informed decisions made.

Pension areas on which we advise, include:

  • Annual certificates of pensionable pay for type 1 and type 2 GP practitioners
  • Annual estimates of pensionable pay
  • Locum GP obligations
  • Pension annual allowance calculations and providing estimates for future years based on profit forecasts to identify and plan against unwanted annual allowance tax charges
  • Monitoring the pension lifetime allowance and providing estimates for future years and again identifying and planning against unwanted tax charges when drawing your pension
  • Ensure pension deadlines are met and appropriate declarations made in tax returns on a timely basis
  • Impact of the 2015 NHS scheme
  • Interaction of personal pension policies with the NHS pension scheme
  • Combining pension planning with overall retirement strategy

If you would like any further information or would like to receive a quote for our services, please feel free to contact us and one of our Doctors team will get back to you.

 

Doctors News

 

General Medical Services GP contract from April 2018

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Changes have been agreed to the General Medical Services GP contract for 2018/19 with effect from 1 April 2018. These changes apply in England only. Steven Boxwell in our Plymouth office covers the changes. Although […]

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“Mexican standoff” over locum pay

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NHS watchdogs have backed down in a row with locum doctors, performing a u-turn over new tax rules. The NHS, like other public bodies, is having to grapple with new rules introduced from 6 April […]

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